Revolution Medicines is acquiring EQRx in an all-stock deal bringing that company’s more than $1 billion in cash. It marks the end for EQRx, a company that aimed to develop and commercialize lower-cost drugs for cancer and other diseases.
The latest funding brings total investment in the company to $750 million. The money has gone, in part, toward licensing of promising drug candidates in breast, lung and other cancers.
Transitioning to PDPM models significantly shifted the healthcare industry. By replacing the RUG system, healthcare providers cut waste and more accurately reflect the care each patient received.
The startup, founded by a prominent health policy expert and a biotech industry executive, aims to bring down the cost of drugs by re-engineering and making less costly the process by which they are discovered and brought to patients.